Everyone loves the extra cash! If you are a 9-5, you would probably love the idea of having a side hustle that generates an extra income to handle other bills.
Then as a fresh graduate or undergraduate, starting something while waiting for a breakthrough in your job hunting is going to be one of the best financial decisions to make.
Or if you are looking at taking up entrepreneurship as a lifetime journey, then this is for you, too.
So now the question would be, what kind of business can you start with little or no capital and make lots of money?
We’ve got this! We will help you with the basic homework by sharing a few business ideas we believe are the best fit for you depending on your skills, interest, passion, industry, or location.
Let’s dive in!
Businesses That Make A Lot Of Money
Auto Repair:
The average age of cars and light trucks is increasing daily. People are keeping their cars for more time than ever before, implying that there is a big opportunity in the maintenance and repair business.
Car owners are more likely to visit a small business for repairs; according to the Auto Care Association, independent repair facilities capture more than 70% of repair businesses when trying to compare to dealerships or manufacturer-authorized repair facilities.
If you’re a skilled mechanic, one of the most profitable business ideas might be an auto repair service. You can provide services such as oil changes, fluid refills, battery swaps, headlight repairs, and more.
Consulting:
If you’ve been in business for a long time, people may be clamoring for your knowledge and expertise in your field. Why not use your knowledge to launch a new career as an independent consultant
According to the Bureau of Labor Statistics, demand for consulting services will increase, particularly among smaller businesses dealing in specialized industries or business functions.
Management analyst employment, which includes consultants from a variety of industries, is expected to grow 14% between 2020 and 2030, outpacing the national average.
As an independent consultant, you can be compensated to give presentations at industry conferences or events, serve on a board of advisors for a new company, or lend your expertise to shape an existing company’s strategy on a contract basis.
Graphic Design:
With more brands competing for consumers’ attention, small businesses need a slick and polished image now more than ever. According to Adobe research, 73% of businesses that invest in design do so to stand out from the competition.
And, while employment for graphic designers is expected to grow at a 3% annual rate from 2020 to 2030, there are opportunities, particularly for graphic designers who work freelance — which 90% of graphic designers in the industry do, according to an IBIS World report for 2021.
Do you have experience with Adobe Photoshop, Illustrator, and InDesign? Have you taken any design classes, and do you have a good sense of branding? As a freelance graphic designer, you can turn your skills into a business.
You’ll have almost no overhead and will be able to assist small-business owners in creating fantastic marketing graphics.
Virtual Assistant Services:
Businesses can benefit from an assistant who is as adaptable as they are, with more employees working from home and teams dispersed across different time zones and locations.
If you work as an assistant in New York and your client lives in Florida, you don’t have to meet with them in an office every day.
According to ZipRecruiter, the average remote virtual assistant in the United States earns $63,500 per year.
As a virtual assistant, you can choose your clients and work on your own schedule, managing emails, scheduling meetings, booking travel, and completing other basic tasks to make your customers’ lives and businesses run more smoothly.
Marketing Copywriter:
You can use your strong command of the English language to write copy for various companies’ marketing campaigns if you have a strong command of the language.
According to LinkedIn data, hiring for digital marketing professionals increased by 33% year over year from 2019 to 2020, while hiring for content creators increased by 49%.
You’ll have very few startup costs as an independent contractor, whether you’re creating a catchy slogan or writing an in-depth description of a company’s offerings.
Once you get started and build relationships with clients, you’ll be able to quickly earn a profit for your services.
Mobile Apps And Entertainment For Children:
If you are interested in engineering and development, you should take into account tailoring your technology to the youngest users.
According to research, there is a high growing demand for gadgets such as tablets, apps, and mobile entertainment for children, particularly if the products are educational.
More than 60% of parents polled think that mobile devices and apps can help children learn to read, math, science, and world languages, according to a Learning First Alliance report on mobile devices and early childhood education produced by research firm Grunwald Associates.
Do you have an idea for an educational app for kids or parents? If this is the case, now is the time to turn your brilliant idea for the next generation into a potentially profitable business.
Writing E-books:
E-books, just like blogging, enable you to teach others new skills through a digital book that costs a fraction of the price of a printed copy while offering the same level of education.
E-books are completely free to start with and can be sold on large platforms like Amazon. You could even give copies to non-profit organizations that support your cause.
Cleaning Services:
If you enjoy cleaning, you can easily turn that into a business by providing cleaning services to others and earning money.
As households and families become busier, they hope to outsource many of their responsibilities in order to save time.
With more jobs on the way as a result of the COVID-19 virus, you can hire some help. You can also make more flyers about your services, distribute them in your area, and offer services to people’s houses.
Cleaning is especially important now that people’s faculties have been enhanced by Covid-19. You can also start a business that provides exceptional COVID cleaning services.
If you want to be known for what you do, just consider offering premium services like outside power or floor waxing washing for an additional fee. These services could mean the difference between your new cleaning service and prepared organizations that have too many clients to provide that level of cleaning.
Cleaning services are businesses with low overhead; all you need is to attract customers.
Search Optimization:
Do you have any past experience in generating backlinks and increasing a website’s search engine visibility? If yes, you have a chance to make the most of your skill set.
Site owners across the world require the services of SEO experts, so starting a business in this field might be among your best decisions.
When looking for clients, concentrate on a particular audience, learn from your errors, and build your portfolio showcasing your success stories, and you will undoubtedly see an increase in clients if your SEO techniques are effective.
Tutoring ( both online and offline):
Many parents either don’t have the time to assist their children or do not have adequate education, as a result of that, they hire an essay writer or tutor online; if you have skills in a specific area, you can begin face-to-face or online coaching.
When you have a good reputation in a specific area, you can hire others to help with additional subjects. It is beneficial to first speak with an argumentative essay author and then share your best practices and learning with others.
Marketing Services:
Services marketing is one type of marketing used by companies that tend to offer services to their customers in order to increase brand awareness and sales.
Services marketing, as opposed to product marketing, focuses on advertising intangible transactions that provide value to customers.
Marketing services are some of the most exciting and valuable profitable services.
Marketing was at the core of the company that began in 1991, and to be honest, it is still at the heart and outcome of the majority of private companies.
If you are knowledgeable about marketing, SEO, marketing automation, website design, SEM, and other related topics, you can be of help to other entrepreneurs who are struggling in this area.
Personal Trainer:
Many people enjoy getting fit whereby causing most people to go to the gym four to five times per week on average.
While I’m at the gym, many people get training from fitness coaches who have experience with weight training, cardio, and appropriate weight training structure.
If you work in a gym and know enough about private training, you can turn it into a lucrative source of income.
Furthermore, because we live in a computerized age, you can sell online body training and earn a nice consistent income. There is a plethora of individual training plan programming available to assist you in this.
Electronics Repair:
According to the Pew Research Center, by 2021, 85 percent of Americans will have a cell phone, and more than 75% will own a laptop or desktop computer. With more employees working from home, there is a vastly larger reliance on various gadgets.
That means that when something goes wrong, people need help in trying to repair it as soon as possible. It makes electronics repair a possibly profitable business idea.
The global maintenance and electronics repairs market is expected to grow from $8 billion in 2021 to $9.6 billion in 2026 by 2022, according to Business Research Company.
You could be the solution for every Wi-Fi card, broken iPhone screen, or computer battery with this assistance.
Furthermore, if you are willing to travel to your client, you may be much more effective. Long client wait times at Apple stores and other electronics retailers have received harsh criticism, which could benefit mobile suppliers.
Real Estate Brokerage:
If you have previous experience or skill in real estate sales, you may wish to consider obtaining your brokerage license and establishing a real estate brokerage service.
Profits can be substantial depending on the type of property.
A real estate broker must be able to communicate effectively, solve problems, and negotiate effectively.
Conclusion:
Thousands of entrepreneurs have profited from these business ideas, so you can rest assured that you’re putting your time and effort into a viable and proven venture whether you’re a college student, a stay-at-home parent, or a small business owner.